14TH SAET CONFERENCE 14th SAET Conference on Current Trends in Economics WASEDA University August 19-21, 2014 CONTENTS Welcome……………………………………………………………………………………………..…… 2 Conference Information: Registration and Internet Access………………………………………………. 2 Maps & Local Information……………………………………………………………………………….. 3 Program Committee………………………………………………………………………………………. 5 Local Organizing Committee……………………………………………………………………………... 5 Session Organizers………………………………………………………………………………………... 5 Program Summary………………………………………………………………………………………… 7 Plenary Talk/Tutorial Details……………………………………………………………………………… 10 Satellite Conference/Workshops………………………………………………………………………….. 11 Parallel Session Details……………………………………………………………………………………. 12 List of Participants………………………………………………………………………………………… 33 WELCOME On behalf of the Society for the Advancement of Economics Theory, we are pleased to welcome you to Waseda University on the occasion of the 14th SAET Conference. We wish to express gratitude to various institutions that made this conference possible: the Graduate School of Economics, Waseda University, Japan Center for Economic Research, Tokyo Center of Economic Research, Japan Society for Proportion of Science, and the University of Iowa. Many thanks to the people who generously contributed to the success of this event, in particular, the local organizing committee and session organizers. Special thanks to Renea Jay and Rumi Ohata for their attention to detail and preparation of this conference. We hope you enjoy the conference and we wish you a pleasant stay in Tokyo. Mamoru Kaneko and Nicholas Yannelis CONFERENCE INFORMATION Registration: Name tags and conference programs are available in Building 10, Rooms 101-102 Internet access (Wi-Fi) is available in Building 10, Rooms 306-308 2 Takadanobaba Sta. Waseda Sta. Iidabashi Sta. Akihabara Sta. JR Sobu line Shinjuku Sta. Metro Tozai line J R Tokyo Sta. Y a m an ote line Access to the SAET 2014 conference at Waseda Campus （1）： 10 minutes walk from Waseda Sta.（Tokyo Metro Tozai Line） Metro Tozai Line to Waseda Sta. （a）: from Takadanobaba Sta.（JR Yamanote Line） （b）: from Iidabashi Sta.（JR. Sobu Line） （2）： A bus to the Waseda Campus from Takadanobaba Sta.（JR. Yamanote Line） Map of the Waseda Campus The SAET 2014 Conference Presentations of papers: 10th Building Invited Talks and Tutorial: 8th Building Lunch: Date: 19-21 August, 2014; Time: 12:00～14:30; Place: Okuma Garden House Satellite Workshops: 22 August, 11th Building Okuma Garden House (Lunch) Main Gate 11th Bldg. Okuma Auditorium 10th Bldg. 8th Bldg. Metro Waseda Sta. Program Committee Chernozhukov, Victor (MIT, [email protected]) Hörner, Johannes (Yale University, [email protected]) Kehoe, Timothy (University of Minnesota and Federal Reserve Bank of Minneapolis, [email protected]) Kojima, Fuhito (Stanford University, [email protected]) Kovenock, Daniel (Chapman University, [email protected]) Machina, Mark (University of California, San Diego, [email protected]) Prescott, Edward C. (Arizona State University, [email protected]) Squintani, Francesco (University of Warwick, [email protected]) Yannelis, Nicholas (University of Iowa, [email protected]) Zame, William (UCLA, [email protected]) Local Organizing Committee Akiyama, Eizo (University of Tsukuba, [email protected]) Araki, Kazunori (Waseda University, [email protected]) Funaki, Yukihiko (Waseda University, [email protected]) Ishikawa, Ryuichiro (University of Tsukuba, [email protected]) Kaneko, Mamoru (Waseda University, [email protected]), Chair Shimizu, Kazumi (Waseda University, [email protected]) Suga, Koichi (Waseda University, [email protected]) Tanaka, Hisanori (Waseda University, [email protected]) Session Organizers Akiyama, Eizo (University of Tsukuba, Japan, [email protected]) Amir, Rabah (University of Iowa, USA, [email protected]) Barbos, Andrei (University of South Florida, USA, [email protected]) Bloch, Francis (Ecole Polytechnique, France, [email protected]) Borgers, Tilman (University of Michigan, USA, [email protected]) Chang, Chih (National Tsing Hua University, Taiwan, [email protected]) Chateauneuf, Alain (PSE-University of Paris I, France, [email protected]) Chun, Younsub (Seoul National University, Korea, [email protected]) Cornet, Bernard (PSE-University of Paris I & University of Kansas, France & USA, [email protected]) Dávila, Julio (CORE – University c. of Louvain, Belgium, [email protected]) Eraslan, Hülya (Rice University, USA, [email protected]) Facchini, Giovanni (University of Nottingham, UK, [email protected]) Flesch, János (Maastricht University, The Netherlands, [email protected]) Funaki, Yukihiko (Waseda University, Japan, [email protected]) Gahvari, Firouz (University of Illinois at Urbana-Champaign, USA, [email protected]) 5 Gao, Zhengyuan (University of Iowa, USA, [email protected]) Grabisch, Michel (University Paris 1, France, [email protected]) Guo, Jang-Ting (University of California-Riverside, USA, [email protected]) Hanaki, Nobuyuki (Aix-Marseille University, CNRS, EHESS, IUF, France, [email protected]) Herings, Jean-Jacques (Maastricht University, The Netherlands, [email protected]) Hörner, Johannes (Yale University, USA, [email protected]) Hu, Tai-Wei (Northwestern University, USA, [email protected]) Ishikawa, Ryuichiro (University of Tsukuba, Japan, [email protected]) Kamihigashi, Takashi (Kobe University, Japan, [email protected]) Kaneko, Mamoru (University of Tsukuba, Japan, [email protected]) Kehoe, Timothy (University of Minnesota and Federal Reserve Bank of Minneapolis, USA, [email protected]) Kline, Jeffrey (University of Queensland, Australia, [email protected]) Koh, Youngwoo (Hanyang University, South Korea, [email protected]) Kojima, Fuhito (Stanford University, USA, [email protected]) Lippert, Steffen (University of Auckland, New Zealand, [email protected]) Manzini, Paola (University of St Andrews, UK, [email protected]) Matsushima, Hitoshi (University of Tokyo, Japan, [email protected]) Muto, Shigeo (Tokyo Institute of Technology, Japan, [email protected]) Mylovanov, Tymofiy (University of Pittsburg, USA, [email protected]) Nachbar, John (Washington University-St. Louis, USA, [email protected]) Ogaki, Masao (Keio University, Japan, [email protected]) Okada, Akira (Hitotsubashi University, Japan, [email protected]) Ortner, Juan (Boston University, USA, [email protected]) Peng, Shin-Kun (Academic Sinica, Taiwan, [email protected]) Qin, Cheng-Zhong (University of California, Santa Barbara, USA, [email protected]) Reffett, Kevin (Arizona State University, USA, [email protected]) Rusinowska, Agnieszka (CNRS, PSE, University of Paris 1, France, [email protected]) Sandroni, Alvaro (Northwestern University, USA, [email protected]) Sonderegger, Silvia (University of Nottingham, UK, [email protected]) Stecher, Jack (Carnegie Mellon University, USA, [email protected]) Suga, Koichi (Waseda University, Japan, [email protected]) Sugaya, Takuo (Stanford University, USA, [email protected]) Sun, Yeneng (National University of Singapore, Singapore, [email protected]) Suzuki, Nobu-Yuki (Shizuoka University, Japan, [email protected]) Takahashi, Satoru (National University of Singapore, Singapore, [email protected]) Takeuchi, Ai (Ritsumeikan University, Japan, [email protected]) Tanaka, Hisatoshi (Waseda University, Japan, [email protected]) Villamil, Anne (University of Iowa, USA, [email protected]) Yamada, Tomoyuki (Hokkaido University, Japan, [email protected]) Yannelis, Nicholas C (University of Iowa, USA, [email protected]) Yano, Makoto (Kyoto University, Japan, [email protected]) Yeh, Chun-Hsien (Academic Sinica, Taiwan, [email protected]) 6 Program Summary 19th August 2014 WASEDA CAMPUS Registration: 8:00AM Building 10, Room 101-102 Opening Remarks: 9:10AM Building 10, Room 109 19th August, 9:30AM - 11:30AM Building 10 Room 201 202 203 204 205 206 207 208 Organizer/Chair Kojima, F. Kline, J. Reffett, K. Qin, C-Z. Rusinowska, A. Akiyama, E. Guo, J-T. Title Matching and Foundational Dynamic New Social Networks Dynamical Equilibrium Market Issues in Game General Directions Systems Indeterminacy Design Theory Equilibrium in Applied and Models Game Macroeconomic Theory Stability Plenary Talk: 11:45AM - 12:45PM Building 8, Room B101 Chair: Masao Ogaki; Questioner: Hülya Eraslan Speaker: Nobuhiro Kiyotaki (Princeton University) Title: Financial Crisis and Public Policy Lunch: 12:45PM - 2:00PM Okuma Garden House (on the Waseda Campus) 19th August, 2:00PM - 4:00PM Building 10 Room 201 202 203 204 205 206 207 208 Organizer/Chair Funaki, Y. S u n, Y. Chateauneuf, A. & Borgers, T. Matsushima, H. Akiyama, E., Sugaya, T. Flesch. J. Cornet, B. Chair: Yamamoto, H. Title Economic Mathematical Topics in Decision Foundations of Combinatorial Simulation on Dynamic Stochastic Experiment Economics Theory Game Theory Auctions and Social Behavior Games, Games and and and Dynamics Contracts, Their Cognition Mechanism and Applications Design Markets Tutorial Talk: 4:15PM - 5:15PM Building 8, Room B101 Chair: Tilman Borgers; Questioner: J. Jude Kline Speaker: Tai-Wei Hu (Northwestern University) Title: Prediction/Decision Making in Epistemic Logic Reception/Dinner: 6:00PM - 8:30PM at Chinzanso Hotel: